Leveraging the authority of others to kick start your online business

Discussion in 'Main Joint Venture Discussion Forum' started by William Murray, Oct 30, 2013.

  1. William Murray

    William Murray Administrator Staff Member

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    When starting out in the digital marketing world and more specifically product creation, there's a number of choices and paths you can follow to accelerate your online businesses success.

    By far the slowest is organic growth i.e. going it alone and doing it all yourself.

    Don't get me wrong if time is on your side, then it's my number one choice of avenue, going it alone.

    It's a steep learning curve however the main benefit is all the assets and profit you produce is 100% yours.

    There are other choices however when planning to launch your first digital product they are namely.
    • Hire a Joint Venture Broker
    • Hire a Launch Manager
    • Team up with an Authoritative figure in the marketplace you operate in
    A joint venture broker more often than not will command an upfront fee and a commission of your gross sales, which is usually about 10%.

    Some brokers will waive their fee for a higher percentage of gross sales, 20% for example.

    Be cautious though and make sure you do your homework. It doesn't matter what awards they've received from whatever affiliate platform, results count.

    What I mean by results is simple, total number of unit sales they've achieved for their past 3 - 5 clients.

    This gives you a good idea of their ability...

    Ask to speak to 2 or 3 of their most recent clients, see what their experiences were with the JV Broker and how they felt the broker performed on their launches.

    If the JV Broker refuses to disclose their most recent clients and demands cash upfront, then simply walk away.

    Ask about in the marketplace, see what kind of reputation the JV Broker has before you even consider hiring them, or you're in for a very costly mistake.

    The role of a Joint Venture Broker is simple, hire affiliates to promote your offer prior to your launch.

    Moving onto a Launch Manager, their role is significantly different in comparison to a JV Broker.

    A Launch Manager will strategise, optimise, advise and much more with your product and entire funnel.

    Helping you prepare for the marketplace and your launch.

    Just like before expect to pay an upfront fee and depending on their previous successes in the marketplace this could be anything up to $10k+

    If you're new to launching products it's unlikely a top end launch manager will work with you, unless your product adds a stunning amount of value to the marketplace.

    Do your research, make sure you get references and their most recent results.

    More often than not a launch manager will also recruit partners for your launch. Phew... that's out of the way.

    Onto launching with an authority figure.

    Depending on the level of authority the person has in the marketplace will dictate what kind of results you'll get.

    It's a super quick way to position yourself as an expert.

    Sadly some think they're giving away all the potential revenue that their product may generate, which is the wrong mindset.

    It's a short sighted approach...

    What would you prefer, 50% of something or potentially 100% of nothing?

    With any partnership you need to agree terms in writing before doing anything, with power authority figures expect to agree to their terms, which is usually non-negotiable.

    I know some marketers back in the day who pretty much handed their products over to the person they partnered with...

    And ALL the profit, that's right 100% profit just to partner up, whilst the new marketer had exclusive rights to the list, (quite a good deal).

    The point is each scenario will be different, it's a super powerful way to springboard your online business and fast track your authority building, success by association as they say.

    What you're effectively doing by partnering up with an authority figure is leveraging their success, and their contacts.

    Hands down they will gain much more traction than you will, more often than not with little notice to their partners taking your product to market.

    Whereas you could spend months building up to your launch, connecting with affiliates / potential jvs and then potentially end up with disappointing results.

    What's your experiences partnering up with authority figures, is it something you've even considered?
     
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    Last edited: Oct 30, 2013
  2. Cheryl Johnson

    Cheryl Johnson VIP Member

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    Completely agreed on everything!

    The one thing that I would like to point out, though, is that it all depends on your final goals and current time frame.

    For most people who are looking to start out in IM, all of this is true. A list will be more valuable to them than anything else, and jump-starting their reputation will do them WONDERS for their next launch. If they have the time to wait until their next launch, that is.

    For people who have a limited time and aren't aiming to have a business solely in IM, the conditions can be a little different.

    If your circumstances don't allow you the time for an immediate second launch, you can't afford to give your first one away. More often than not, this is due to a financial burden or legal constraint, which means that hiring someone for straight cash isn't really an option either. In this case, the person may actually be forced to go it alone. 0.o
     
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  3. William Murray

    William Murray Administrator Staff Member

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    As you mentioned Cheryl each case is different and giving all your profit away is an extreme case : )

    Normally it's 50-50 down the middle however some may expect a bit more all depends on the circumstances and who's involved :)
     
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